Can Anyone Get A Right to Buy Mortgage
If you are looking to apply for council house mortgage or right to buy mortgage information and help you have come to the right place. Whatever your are interested in or you are looking for we can help!A Right to Buy Mortgage is specifically for those who currently rent their home from the council, and wish to buy their house at a discounted rate. This type of mortgage is an excellent way to get onto the property ladder without having the hassle of saving for a deposit. Monthly mortgage payments are often lower than rental costs. Various schemes are available which allow you to borrow additional money in order to fund home improvements, the purchase of a car or even a holiday.
Almost any council tenant is entitled to exercise their right to buy, provided that they are in a suitably secure financial position in order to be able to obtain a mortgage. There are some potential exceptions which include those who have been housed in their property as a condition of their employment, or those allocated housing that has been provided especially for disabled or elderly residents.
In order to exercise the right to buy, the tenant must be renting their property from: a local authority, a housing action trust, a non-charitable housing association.
One of the sociological benefits of the right to buy scheme is that it encourages more affluent council tenants to stay in the area that they have lived in for some time, thus diversifying the residential mix and preventing a ghetto-style issue arising in certain council property areas. This right to buy scheme has resulted in much more stable and varied communities, which has a positive knock-on effect on all properties in the locality.
Right to buy allows council tenants to purchase their property; a council tenant can purchase a property at a discount, and the right to buy scheme rewards long-term council tenants and encourages them to stay in the area.
Under the Government Right to Buy Scheme, you may have the option of buying your Council home for less than the current open market value. This is because, under the Right to Buy Scheme, the length of time you have spent as a tenant entitles you to a discount. The level of discount will be determined by a range of factors including; length of time you have been a tenant, and the council who currently owns your home.
Simply browse our guide and it will put you in touch with an appropriate independent financial advisor that can find you the very best Right-to-Buy Mortgage deals.
There's no obligation and in most cases no arrangement fee, just plain good mortgage advice. For efficiency initial contact with your mortgage advisor will be made by telephone and email then, should you prefer, a face-to-face visit can be arranged - whichever suits you best!
